Gear’s break-up and delisting lowballs minority investors and does nothing for the environment
Elevated profitability at its thermal coal unit could support development of new businesses that do not face ESG pressures
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WHEN shares in Golden Energy and Resources (Gear) suddenly swooned last Tuesday (Nov 8), I grumbled to my newsroom colleagues that they had crashed one of the best-performing stocks I happen to own.
Earlier that day, The Business Times had published a news report and a commentary about coal companies possibly facing financing risks as banks become increasingly concerned about environmental, social and governance (ESG) issues.
The news report and commentary – which specifically referenced Gear – said that coal companies might have to restructure themselves and offload assets that could become stranded as funding dries up.
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